10 Nov The Power of Education
For our last BBP webinar, we were joined by Robbinex® founder Doug Robbins. The webinar can be accessed here. Mr. Robbins founded Robbinex® in 1974, and in the ensuing decades he has completed 1,000+ assignments. Along the way, he has advised a range of clients on everything from M&A, valuations, and partnerships to partnership resolutions. He has completed over 400 business sales and has personally invested in 32 businesses.
Robbins is a firm believer in the power of education and how investing the time and energy into educating clients and potential clients can yield substantial results. Let’s turn our attention to a few of his key thoughts from his latest webinar.
In a very insightful comment, Robbins notes that a good salesperson doesn’t sell, but instead, they “position themselves to accept orders from educated clients.” He goes on to mention that in the past, he would hold extensive educational workshops as a way to educate potential sellers. It was through these educational workshops that sellers would learn what it really takes to buy and sell a business.
Workshops and seminars have given way to the power of digital era, as many buyers and sellers now believe that they can instantly find the information that they need via a quick Internet search. However, as Mr. Robbins points out, “What they don’t realize is that Google only has the answer to the question and there are thousands of questions that need to be considered, and ultimately answered, when getting ready to sell a business.”
The digital era may have replaced some aspects of how information is processed and filtered, but the simple fact remains that it takes true expertise to effectively sell a business. The role of the Business Broker, M&A Advisor and other brokerage professionals has never been more important.
Your role as a facilitator of knowledge goes beyond sellers. Savvy brokers realize that they must also educate professionals that are working with their clients. For example, a clients’ accountants, lawyers and wealth managers must also be educated as to the true complexities of selling a business. In educating these professionals, you are certainly not wasting your time. These relationships could very well lead to quality referrals. In short, the time and energy invested in the education of professionals that work with a seller can be a key source of new clients in the future.
Mr. Robbins brilliantly points out that education and communication should be at the heart of what you do. You have a unique skill set, that can lead to impressive results when it is properly deployed.